Australian Market Notably Lower

RTTNews | 552天前

(RTTNews) - The Australian stock market is trading notably lower on Wednesday, adding to the losses in the previous session, with the benchmark S&P/ASX 200 falling to near the 7,600 level, following the broadly negative cues from Wall Street overnight, dragged by strong losses in mining stocks amid weaker metal prices.

Though the Reserve Bank of Australia held rates steady as widely expected, it warned that a further interest rate hike is possible due to persistently high inflation.

The benchmark S&P/ASX 200 Index is losing 48.20 points or 0.63 percent to 7,610.80, after hitting a low of 7,599.20 earlier. The broader All Ordinaries Index is down 48.90 points or 0.62 percent to 7,862.60. Australian stocks ended slightly lower on Tuesday.

Among major miners, Mineral Resources is losing almost 2 percent, Fortescue Metals is declining almost 4 percent, BHP Group slipping more than 3 percent and Rio Tinto is down almost 3 percent.

Oil stocks are mixed. Santos is losing almost 2 percent and Woodside Energy is down almost 1 percent, while Origin Energy is adding 1.5 percent and Beach energy is edging up 0.2 percent. In the tech space, Afterpay owner Block is edging up 0.1 percent, Appen is advancing almost 4 percent, Xero is gaining more than 1 percent and WiseTech Global is soaring 11.5 percent. Zip is flat.

Among the big four banks, Westpac is edging down 0.1 percent. Commonwealth Bank is gaining almost 1 percent, while ANZ Banking and National Australia Bank are adding more than 1 percent each.

Among gold miners, Newmont, Evolution Mining and Gold Road Resources are losing almost 1 percent each, while Northern Star Resources is edging down 0.5 percent and Resolute Mining is down more than 1 percent.

In other news, shares in Woolworths are tumbling 9 percent after supermarket giant announced that chief executive Brad Banducci is stepping down after 13 years at the helm.

Shares in Corporate Travel Management are plummeting 18 percent after the travel agency's half-year results missed expectations.

In economic news, Australia's wage price index was up a seasonally adjusted 0.9 percent on quarter in the fourth quarter of 2023, the Australian Bureau of Statistics said on Wednesday. That was in line with expectations and down from 1.3 percent in the three months prior.

On a yearly basis the wage price index climbed 4.2 percent - exceeding estimates for 4.1 percent and unchanged from the previous three months.

In the currency market, the Aussie dollar is trading at $0.655 on Wednesday.

On the Wall Street, stocks moved mostly lower during trading on Tuesday, extending the pullback seen during last Friday's session. The Nasdaq showed a notable move to the downside amid weakness among tech stocks.

The major averages ended the day in negative territory but off their lows of the session. The Nasdaq slumped 144.87 points or 0.9 percent to 15,630.78, the S&P 500 fell 30.06 points or 0.6 percent to 4,975.51 and the Dow dipped 64.19 points or 0.2 percent to 38,563.80.

Meanwhile, the major European markets finished the day mixed. While the French CAC 40 Index rose by 0.3 percent, the U.K.'s FTSE 100 Index and the German DAX Index both edged down by 0.1 percent.

Crude oil prices moved sharply lower on Tuesday, reflecting ongoing concerns about the outlook for demand. West Texas Intermediate for March delivery slumped $1.01 to $78.18 a barrel, while the more actively traded crude for April delivery tumbled $1.42 to $77.04 a barrel.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 48分鐘前

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 1小時16分鐘前

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1小時18分鐘前

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1小時33分鐘前

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 1小時36分鐘前

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 1小時48分鐘前

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 2小時18分鐘前

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2小時48分鐘前

EURUSD	1.16339	GBPUSD	1.34626	AUDUSD	0.64804
USDJPY	147.585	USDCAD	1.38505	USDCHF	0.80494